Li-Cycle Corp. and Helbiz are working together to create a recycling solution for end-of-life lithium-ion batteries used in e-scooters and e-bikes.
As the global shift toward electrification continues to accelerate, the popularity of micro-mobility is following suit, with the global market expected to grow to $150 billion by 2025, according to Market Research Future.
Li-Cycle intends to utilize its Spoke & Hub Technologies to efficiently, safely, and sustainably recover the end-of-life batteries from Helbiz’s fleets of e-scooters and e-bikes and return the valuable materials contained within back into the supply chain.
“We believe Li-Cycle and Helbiz are ideal partners as we are two innovative companies working toward the same vision for a sustainable electric mobility sector,” said Kunal Phalpher, chief commercial officer of Li-Cycle.
“This partnership represents a critical first step for our collaboration as we seek to create a closed lithium-ion battery recycling loop on a global scale. Together, we intend to recover valuable materials from old scooters and e-bikes to be reused in new ones in cities around the world via a truly sustainable, fit-for-purpose pathway.”
Both Li-Cycle and Helbiz have previously announced plans to become publicly traded companies in the United States via business combinations with special purpose acquisition companies (SPACs) and have plans to expand operations in Europe.
In the coming months, Li-Cycle expects to recycle 500 lithium-ion batteries from Helbiz e-bikes and e-scooters, with volume set to increase heading into 2022 as Li-Cycle supports Helbiz’s operations in the United States and abroad.
“We are proud to partner with Li-Cycle and look forward to working closely with their team to develop and implement a safe and sustainable recycling solution for the batteries used in our e-scooters and e-bikes,” said Ruggero Cipriani Foresio, chief marketing officer of Helbiz.
“This collaboration further supports our commitment to worldwide sustainability and our dedication to lead each city we operate in towards a greener future.”
Li-Cycle is aiming to support Helbiz’s net zero emission target by 2022 while simultaneously facilitating Helbiz’s ability to achieve a 100% recycling target, with a view to advancing sustainability efforts in the micro-mobility sector and further minimizing the environmental footprint of shared scooters and e-bikes.
On February 16, 2021, Li-Cycle announced its entry into a definitive business combination agreement with Peridot Acquisition Corp. Upon the closing of the business combination, which is expected in the third quarter of 2021, the combined company will be named Li-Cycle Holdings Corp.